🔴 $WIF BREAKING 🔴

Dogwifhat (WIF), a memecoin on the Solana Blockchain, has seen a sharp 38% price drop in the past week, causing it to fall out of the top 50 cryptocurrencies by market cap. Despite this, it remains one of the top four memecoins.

As of June 23, its market cap decreased by 9% within a 12-hour period to $1.60 billion. This allowed Fantom (FTM) to surpass it with a market cap of $1.65 billion.

Despite discussions about WIF being in an accumulation zone, sentiment remains skeptical. Dogwifhat retains its position as the fourth largest memecoin by market cap, trailing Pepe (PEPE) with a market cap nearly three times larger at $4.57 billion.

Dogwifhat’s recent decline has also impacted futures traders’ activities. Open Interest (OI) in Dogwifhat futures contracts has decreased by 25% to $209.64 million over the same period.

If Dogwifhat rebounds to $1.81, approximately $13.53 million in short positions could be liquidated. However, the sentiment surrounding Dogwifhat has shifted from earlier optimistic forecasts.

$WIF

#WIF #CryptoNewsCommunity #BinanceTournament #BTC60K #CryptoTradingGuide